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the fiscal cliff come early to the workers of michigan.
the fiscal cliff come early to the workers of michigan.
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Dec 12, 2012
12/12
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still no real action as far as what we can see coming out on the looming fiscal cliff, we have a look at the very latest proposal. [ male announcer ] this is amy. amy likes to invest in the market. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. those little things for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for ily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you
still no real action as far as what we can see coming out on the looming fiscal cliff, we have a look at the very latest proposal. [ male announcer ] this is amy. amy likes to invest in the market. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science....
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Dec 8, 2012
12/12
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this fiscal cliff didn't come out of no where. we knew it was coming, it was rolling our direction. but one thing frustrating americans is it seemed like the cliff was being ignored or put on hold while the campaign was going on. it was the day after the election. we saw the dow drop 300 points and suddenly everyone woke up and said we have to face this cliff and the question is, can they really address these issues in the next 24 days with the president heading for vacation and congress about to go home? it doesn't feel good. >> no. in terms we're waiting to find out if we're going to go over the cliff, but we're already seeing the effects of it, aren't we? a lot of americans without jobs and just the fear of going over the cliff is affecting it because it's affecting hiring. >> without a doubt. you wonder if it's affecting big business or small business. corporate ceos are simply sitting on their hands. you are seeing u.s. corporations with more money on their balance sheet than they had in years. the fact that they're facing more health care costs to pay out to their employees an
this fiscal cliff didn't come out of no where. we knew it was coming, it was rolling our direction. but one thing frustrating americans is it seemed like the cliff was being ignored or put on hold while the campaign was going on. it was the day after the election. we saw the dow drop 300 points and suddenly everyone woke up and said we have to face this cliff and the question is, can they really address these issues in the next 24 days with the president heading for vacation and congress about...
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Dec 7, 2012
12/12
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when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another week. >>reporter: he calls officials saying they are ready to go over the trip. >>shepard: democrats insist that revenue, revenue, revenue is the key. >>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects of a deal until the g.o.p. gives in on their demand for more tax money. >> what is lacking are the revenues. we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that requires companies to notif
when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another week. >>reporter: he calls officials saying they are ready to go over the trip. >>shepard: democrats insist that revenue, revenue, revenue is the key. >>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects...
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Dec 6, 2012
12/12
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WUSA
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to be known as the fiscal cliff and today republicans stood by their offer to close some tax loopholes and limit deductions and called on the for the give them a new plan that the congress could. president obama spent his day with the santana family of falls church and he says they're members of the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in places like fairfax county where federal contracting is king. >> if you go make the kind of cuts that some are suggesting happen, then you're really hurting a lot of the small buss
to be known as the fiscal cliff and today republicans stood by their offer to close some tax loopholes and limit deductions and called on the for the give them a new plan that the congress could. president obama spent his day with the santana family of falls church and he says they're members of the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in places like fairfax...
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Dec 8, 2012
12/12
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can you fix the fiscal cliff and send the economy downward. >> the fiscal cliff, isn't it having real impact in the economy now? >> it's having real impact and name pact will growth longer we take to come to a deal, some deal, any deal. what everybody wants, individuals who are going to be paid in january, they don't know how much and businesses, so what's the deal? what are -- what do we have to plan on? >> the best down payment would be to continue tax rates at the middle class for the rates they are, the best down payment. that's the best easy first step and i hope congress will realize take a step and take it now and give the president something he can sign. >> that has to be the last word. thanks, guys. >>> from the downward slope of the cliff to the upward climb on jobs, a big surprise in the november jobs numbers. it's a step in the right direction, but ali velshi will join me with a look at why we need to do much more. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their cl
can you fix the fiscal cliff and send the economy downward. >> the fiscal cliff, isn't it having real impact in the economy now? >> it's having real impact and name pact will growth longer we take to come to a deal, some deal, any deal. what everybody wants, individuals who are going to be paid in january, they don't know how much and businesses, so what's the deal? what are -- what do we have to plan on? >> the best down payment would be to continue tax rates at the middle...
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Dec 13, 2012
12/12
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. >> i am not concerned about the fiscal cliff. >> how come? >> because right now i'm concerned about getting the right gift for my mom? >> i still have people and friends, very close friends, out of work, underemployed, so, i, yeah, of course i'm concerned about it, yeah. >> do you know what the fiscal cliff is, ashley? >> i do, but i don't know enough about it tos be concerned or have an opinion on it so i'd rather just worry about my christmas gifts. >> all right, she gave me an honest answer. bull regardless of knowledge, people are increasing their spending, everyone from piper afterree to the consumer federation said people are spending more this holiday and we are hearing from shoppers here that cliff or no cliff, they are most all telling me they think the economy is, quote, getting a little better. what are they buying? after buying electronics on black friday, shoppers are moving onto basics, like children's apparent and videogames. back in the fall, 38% of those parents said they delayed some back to school purr chases to the holiday
. >> i am not concerned about the fiscal cliff. >> how come? >> because right now i'm concerned about getting the right gift for my mom? >> i still have people and friends, very close friends, out of work, underemployed, so, i, yeah, of course i'm concerned about it, yeah. >> do you know what the fiscal cliff is, ashley? >> i do, but i don't know enough about it tos be concerned or have an opinion on it so i'd rather just worry about my christmas gifts....
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Dec 12, 2012
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coming up, more fiscal cliff talks between the two most powerful men in washington right now. >>> plus, he was supposed to be parking an nfl star's car, but he made a bit of a detour. this is like ferris buehler's day off. amazing story. ♪ [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to gently loosen and break up that sticky plaque with more brush movements than manual brushes and even up to 50% more than leading sonic technology brushes for a superior clean. oral-b power brushes. go to oralb.com for the latest offers. oral-b power brushes. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. i just finished a bowl of your new light chicken t pie soup and it's so rich and creamy... is it re
coming up, more fiscal cliff talks between the two most powerful men in washington right now. >>> plus, he was supposed to be parking an nfl star's car, but he made a bit of a detour. this is like ferris buehler's day off. amazing story. ♪ [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to gently loosen and break up that sticky plaque with more brush...
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. >> coming up on "the willis report", obama ad the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? christmas wish list? have before copd... i tk my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fishn! symbicorts for copd including chronic bnchitis and emphysema. it should not be taken more an twice a day. symbirt may increase your risk of lung infections, osteoporosis, d some eye problems. tell your doctor if you have a heart condition or hi blood pressure before taking it. with copd, i thought i'd miss our family tradition. now symbicort significantly improves my lung function, starting
. >> coming up on "the willis report", obama ad the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? christmas wish list? have before copd... i tk my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor...
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Dec 12, 2012
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in a few short weeks, the fiscal cliff is coming to town. merry cliff mas. with a dramatic name like fiscal cliff, it has to be exciting. jim? >> the president is asking for 1.6 trillion. >> $600 billion in tax hikes. >> dividends and capital gains. >> discretionary spending. >> i'm up. what happened? is it over? >> pro union protesters are swarming the michigan capitol building in lansing. >> you're disgusting. >> dude, you are from michigan, detroit. eight mile. you have to come up with better miles than busting and disgusting. if you want to win the rap battle, put effort into it. >> you have one job. one factory. when you seize every benefit you could, yo, my palms are sweaty and knees weak working in the factory building chevies. you plug it in and you win. ecologically because if it was an actual race you would not actually. you got to collect for the union or robots are going to take away our jobs or to the chinese kids with the tiny hands the work will go. this opportunity comes once in a lifetime yo. >> we are locking at heavy rain and we will see i
in a few short weeks, the fiscal cliff is coming to town. merry cliff mas. with a dramatic name like fiscal cliff, it has to be exciting. jim? >> the president is asking for 1.6 trillion. >> $600 billion in tax hikes. >> dividends and capital gains. >> discretionary spending. >> i'm up. what happened? is it over? >> pro union protesters are swarming the michigan capitol building in lansing. >> you're disgusting. >> dude, you are from michigan,...
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Dec 5, 2012
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and if they can come to a deal, then i think we can avoid the fiscal cliff. >> and do you think that -- somebody put this idea out here. and this idea is really vile. i'll use the right word. i think you'll agree. here's the idea. let's go off the cliff, just for purely political reasons, nothing happens immediately, and then, you know, you all come back in session in early january, and you give the middle class a tax cut, and you give the wealthy a tax cut, they'll pay more than they're paying now but less than 39.6.% is that possibly what both sides are angling to? >> you use the word vile and i'll echo that word. i think going over the cliff is a disaster. i think social leaders negotiate the best deal they possibly can, and let's try and get this done. i would not be for playing a game of chicken, if you will, or trying to fool the american people who are pretty dadgum smart when it comes to these sorts of things. >> do you fear the right wing of your own party, a wing that says any revenue, as you heard jim demint say, no revenue, not part of the deal. do you think that's going
and if they can come to a deal, then i think we can avoid the fiscal cliff. >> and do you think that -- somebody put this idea out here. and this idea is really vile. i'll use the right word. i think you'll agree. here's the idea. let's go off the cliff, just for purely political reasons, nothing happens immediately, and then, you know, you all come back in session in early january, and you give the middle class a tax cut, and you give the wealthy a tax cut, they'll pay more than they're...
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Dec 9, 2012
12/12
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giev tot face the fiscal cliff that's coming in a couple of weeks. >> so you know what both sides are saying. the president is saying there's no way to make the math work without raising the rates for the top income earners and that the republicans should give in on this. >> yeah, yeah. >> do you think he's right? >> well, i understand that position. that was the position he took during the campaign. but what has to happen in my view, you've got to have everything on the table. yo view to have revenue increases. now, how you get those revenue increases was an item of discussion during the campaign. it are be an item of discussion during the negotiation. i for one think you could get there in way that would promote economic growth by eliminating -- by bronding the tax base, by eliminating loopholes and deductions. the truth of the matter, fareed, is we're not undertaxed as americans. we overspend. i think everybody would agree we overspend. that's why we have this debt to gdp over 100%. fars as the eye can see, absence poultcy changes. whatever you do, you first have to agree what the
giev tot face the fiscal cliff that's coming in a couple of weeks. >> so you know what both sides are saying. the president is saying there's no way to make the math work without raising the rates for the top income earners and that the republicans should give in on this. >> yeah, yeah. >> do you think he's right? >> well, i understand that position. that was the position he took during the campaign. but what has to happen in my view, you've got to have everything on the...
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Dec 7, 2012
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this all comes as we get word that the fiscal cliff talks will boil down to what happens between two people and only two people. president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the november jobs report numbers. they look very good, good news overall for the koirnlt tree. but speaker boehner said this, the democrats plan to slow walk our economy to the edge of the fiscal cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithne
this all comes as we get word that the fiscal cliff talks will boil down to what happens between two people and only two people. president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the...
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Dec 8, 2012
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cliff? it comes down to tax rates. this is a huge sticking point in the stalled negotiations between the president and mr. boehner. obama says the top rate on household income above $250,000 should rise from 35% to 39.6%. boehner wants the rate to stay at 35% or even lower. but what about meeting in the middle? around 37%? listen carefully to the speaker when he was asked today whether that rate could be the answer to this impasse. >> there are a lot of things that are possible. to put the revenue the president seeks on the table. but none of it's going to be possible if the president insists on his position. insists on my way or the highway. >> you hear what he said? a lot of things are possible. that may not sound like much where you're from, but here in washington, it sounds suspiciously like code for we're making progress. more evidence boehner's democratic counterpart house minority leader nancy pelosi also seems to be softening her language as we head into the weekend. listen. >> what
cliff? it comes down to tax rates. this is a huge sticking point in the stalled negotiations between the president and mr. boehner. obama says the top rate on household income above $250,000 should rise from 35% to 39.6%. boehner wants the rate to stay at 35% or even lower. but what about meeting in the middle? around 37%? listen carefully to the speaker when he was asked today whether that rate could be the answer to this impasse. >> there are a lot of things that are possible. to put...
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Dec 12, 2012
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well tell you what they said about the fiscal cliff and innovation coming up after the break. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. [ male announcer ] when it comes to the financial obstacles military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy.
well tell you what they said about the fiscal cliff and innovation coming up after the break. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. [ male announcer ] when it comes to the financial obstacles military families face,...
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Dec 5, 2012
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. >> regardless of how fiscal cliff negotiations work out, for the first time ever, the irs will impose a new income surtax on all investment gains including your home. 159 pages of rules for one tax. this cannot be good. here now is the author of the book democracy denied. 159 pages. am i right it is going to include gains on your home? in fact this rule looks like it is going to cover more ground than originally thought. this surtax? >> well, you still have an exclusion on the tail of a primary residence. above that, it would be subject to this surtax. independent income. the rules are surrising. all rental income, you are going to have to pay the surtax on that rental income. depending on what happens with fiscal inclusive, we could be looking at 43.4%. all of this stuff, income is going to go up. there is a 0.9% payroll tax for people above $250,000. explain this to me. these investments aren't they already tax ee eed once? when you put it into corporate assets, you put it into corporate stock. this is an additional layer of tax on already taxed income. to worsen that, worsens that
. >> regardless of how fiscal cliff negotiations work out, for the first time ever, the irs will impose a new income surtax on all investment gains including your home. 159 pages of rules for one tax. this cannot be good. here now is the author of the book democracy denied. 159 pages. am i right it is going to include gains on your home? in fact this rule looks like it is going to cover more ground than originally thought. this surtax? >> well, you still have an exclusion on the...
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Dec 7, 2012
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[applause] >> more about the impact of the fiscal cliff coming about as the joint chief of staff >> i think the writers institute is very important that in the culture. we are a culture of words, of the voices. the words are key to our imagination and a capacity to envision things. we ourselves are tied to print on the page. but i think there is no other art form so readily accessible that is something in literature and the just captures the human spirit. .. former chairman of the joint chiefs of staff admiral michael mueller joined former senators in the house armed services committee chairman this week to urge congress to avoid sequestration. also speaking over the next 50 minutes, arms services committee chairman sam nunn, ike skelton and the national security hosted this event in washington, d.c.. >> good afternoon. thank you for coming. my name is pete peterson. i would have given you a review of the foundation and why we are supporting the project you are here about today. starting about 30 years ago, after studying the profound demographic trend, and the vast unfunded pharmacis
[applause] >> more about the impact of the fiscal cliff coming about as the joint chief of staff >> i think the writers institute is very important that in the culture. we are a culture of words, of the voices. the words are key to our imagination and a capacity to envision things. we ourselves are tied to print on the page. but i think there is no other art form so readily accessible that is something in literature and the just captures the human spirit. .. former chairman of the...
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Dec 5, 2012
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we are going over the fiscal cliff, that's my take. the administration is not budging. the only way they will even come to the table to negotiate is with the top earners paying higher tax rates, not just more in taxes, higher tax rates. but for some reason it must be higher rates, period. that's it. end of story. not because it is going to move the needle and fix our out of control debt, because it won't, not because it will put america on a fiscal sustainable path, because it won't. that is where the president has drawn his line in the sand. meanwhile, the president is now proposing a form of kicking the can down the road. raising taxes now with a promise to deal with entitlement reform and tax reform next year or beyond. that's the real worrisome proposal. here we are at the center of probably the most important fiscal conversation this country has had in decades. no one thinks we can continue on this spending path we are on without a day of reckoning coming sooner or later. why would we not seize the
we are going over the fiscal cliff, that's my take. the administration is not budging. the only way they will even come to the table to negotiate is with the top earners paying higher tax rates, not just more in taxes, higher tax rates. but for some reason it must be higher rates, period. that's it. end of story. not because it is going to move the needle and fix our out of control debt, because it won't, not because it will put america on a fiscal sustainable path, because it won't. that is...
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Dec 6, 2012
12/12
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and, remember, the fiscal cliff is not really a cliff. even if we come to january 1st, it's more of a hill and they actually have a little bit more time than people are giving them credit for. and that's why i think the markets are not overreacting right now. >> there's this notion that you can go over the cliff and sort of go back, grandfather it in. but at the same time, for a company like general dynamics, at what point do you start getting concerned it will, in fact, at least impact that quarter? >> well, that's a good point. it certainly could impact the quarter if it goes for weeks or months, absolutely. and i think maybe even the bigger factor is i think you talked about it which is there will be volatility as we approach the cliff and go over the cliff. even if it's a few days or few weeks. there will be a lot of volatility in the markets. that could be buying opportunities for all of us that have some dry powder for which to deploy. we tend to be more long-term holders. we tend to buy stocks and hold them for years rather than we
and, remember, the fiscal cliff is not really a cliff. even if we come to january 1st, it's more of a hill and they actually have a little bit more time than people are giving them credit for. and that's why i think the markets are not overreacting right now. >> there's this notion that you can go over the cliff and sort of go back, grandfather it in. but at the same time, for a company like general dynamics, at what point do you start getting concerned it will, in fact, at least impact...
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Dec 7, 2012
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fiscal cliff or no, the dow up 82 points. maybe liking the job number after all. much more to come. an old friend from the technical world joining us moments in the second hour of "the closing bell." >>> and it is 4:00 p.m. on wall street. i'm mandy drury sitting in for maria bartiromo. this is where we're finishing the day on wall street. we're also finishing out the trading week as well. the nasdaq has been the underperformer all day because of apple. still sitting below 3,000. the dow managing to finish 80 points higher. the s&p 500 also stretching its legs, up by four points. bill, you're back. >> of course. we've just started without you here, mandy. i'm bill griffeth. let's find out who made money on wall street. i'm still getting dressed here. ralph is our mentor here. and there's our own rick santelli. so we just got started here. what do you think of this market? >> i'm ecstatic. >> you're ecstatic? >> yes. >> is that beyond bullish? >> yonbeyond bullish. if bad news can't take you down, that's good news. for the past couple weeks, that's all we've been getting. and the mar
fiscal cliff or no, the dow up 82 points. maybe liking the job number after all. much more to come. an old friend from the technical world joining us moments in the second hour of "the closing bell." >>> and it is 4:00 p.m. on wall street. i'm mandy drury sitting in for maria bartiromo. this is where we're finishing the day on wall street. we're also finishing out the trading week as well. the nasdaq has been the underperformer all day because of apple. still sitting below...
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i don't want to only talk about the fiscal cliff when nothing we're doing is coming close to deal with these issues. melissa: we talk about how hard it is to simplify the tax code. our guest before you guys said the same thing. it could be really simple. we could put out three rates for people with absolutely no deductions exceptions. if you're in this group you pay 35% or whatever. make up your number. >> right. melissa: if you're in this group pay 30, and this group pay 25. no exceptions, no deductions that would be one page tax code. what is wrong with that, michael. >> because we live in a complex country with complex country. you don't want people, somebody with $50,000 of emergency medical expenses exactly the same as somebody who doesn't have those things? you want to tree somebody, the fact of the matter is you want to balance between simplicity and targeting. you want to balance between fairness and revenue. you need to make these --. melissa: who dids decides what is fair? get out there and we pick winners and losers we say who's problem is worth taxpayer dollars and who's pr
i don't want to only talk about the fiscal cliff when nothing we're doing is coming close to deal with these issues. melissa: we talk about how hard it is to simplify the tax code. our guest before you guys said the same thing. it could be really simple. we could put out three rates for people with absolutely no deductions exceptions. if you're in this group you pay 35% or whatever. make up your number. >> right. melissa: if you're in this group pay 30, and this group pay 25. no...
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when it comes to the fiscal cliff that is turning our economy and jobs, the white hhuse is wasted another week. gerri: what do y say? we wasted another week. we seem to be getting nowhere, and now folks are saying the president is trying to entice us of the fiscal cliff. >> look, i think they're actuly some pretty strong incentives for the president to take the country over the fiscal cliff. if you lo at what the president's stance to gain if the country goes over the fiscal cliff, here are very clear and identifiable things. on the one hand the president could idenfy himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. he can turn and say to my want to restore some of this funding that my secretary ofefense and joint chiefs of staff told me i need to restore and can position himself as sort of the protector of u.s. national security. so there are som clear incentives to the president to lead the country over the fiscal cliff. d
when it comes to the fiscal cliff that is turning our economy and jobs, the white hhuse is wasted another week. gerri: what do y say? we wasted another week. we seem to be getting nowhere, and now folks are saying the president is trying to entice us of the fiscal cliff. >> look, i think they're actuly some pretty strong incentives for the president to take the country over the fiscal cliff. if you lo at what the president's stance to gain if the country goes over the fiscal cliff, here...
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to the fiscal cliff. but tim geithner just told cnbc that we're going to go over the cliff unless tax rates go up. at the same time, two dozen republican house members signed a bipartisan letter with democrats defecting from the boehner plan. in the meantime, a nice game for the day for the dow, but a stunning selloff for apple. do you know what? fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we already bailed out detroit's auto industry. but now, at least one motown politician is telling president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> we
to the fiscal cliff. but tim geithner just told cnbc that we're going to go over the cliff unless tax rates go up. at the same time, two dozen republican house members signed a bipartisan letter with democrats defecting from the boehner plan. in the meantime, a nice game for the day for the dow, but a stunning selloff for apple. do you know what? fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we...
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forget the fiscal cliff stuff. what we know is coming, already will be a hock to the system. you lay that are with even more draconian tax hikes, more regulations and this war on business that i've been seeing, it's not going to be that great. >> you register surprise like i go when the 7.7% number came in. but we've got to find out, did the labor force shrink? that's the key to understanding the rate -- >> lot of economic data, the headlines look good. when you dig, it's been disappointing. >> let me conclude, that we have it, 7.7%, the unemployment rate in november. 146,000 jobs created. that's it for this fox business special report. we'll continue the coverage throughout the day. now back to our regular programming. >> steve: all right. thank you very much. it's interesting what peter barns said from washington and that was that in the two months running up to the election, now there apparently have been revisions for september and october. 50,000 fewer jobs were created than reported by the federal government. that's curious. >> brian: now to your headlines. they're accu
forget the fiscal cliff stuff. what we know is coming, already will be a hock to the system. you lay that are with even more draconian tax hikes, more regulations and this war on business that i've been seeing, it's not going to be that great. >> you register surprise like i go when the 7.7% number came in. but we've got to find out, did the labor force shrink? that's the key to understanding the rate -- >> lot of economic data, the headlines look good. when you dig, it's been...
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two days after the republican fiscal cliff counter offer, both sides are coming out swings. speaker john boehner defended his proposal this morning, adopting a page from the dem's fairness playbook. >> the revenues we're putting on the table are going to come from, guess who? the rich. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising
two days after the republican fiscal cliff counter offer, both sides are coming out swings. speaker john boehner defended his proposal this morning, adopting a page from the dem's fairness playbook. >> the revenues we're putting on the table are going to come from, guess who? the rich. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising
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. >> plus free speech on the fiscal cliff from a local congressman coming up. >> > >> >> pelley: finally tonight, dave brubeck was a jazz pioneer who kept his own kind of time. as a pianist and compose ever, he challenged the standard musical cadence with exotic rhythms and styles. brubeck, who would have turned 92 tomorrow, died today. anthony mason takes time out to remember his work. >> reporter: dave brubeck's music was a defining sound of jazz clubs in the '50s and '60s. a "time" magazine cover story in 1954 described him as a wigging cat with a far out wail. >> are there any rules for improvisation? >> you bet your life there are and the rules in jazz would just scare you to death. >> reporter: the son of a california cattle rancher and classically trained pianist, brubeck had a natural ear for melodies. at home in connecticut in 1961 he told walter cronkite -- >> it's like a baseball player or any athlete. he's only good when he instinctively does the right thing. the dave brubeck quartet's signature tune "tyke five" appeared on their landmark album "time out." released in 1959, i
. >> plus free speech on the fiscal cliff from a local congressman coming up. >> > >> >> pelley: finally tonight, dave brubeck was a jazz pioneer who kept his own kind of time. as a pianist and compose ever, he challenged the standard musical cadence with exotic rhythms and styles. brubeck, who would have turned 92 tomorrow, died today. anthony mason takes time out to remember his work. >> reporter: dave brubeck's music was a defining sound of jazz clubs in the...
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and the fiscal cliff. james cheeks says he is counting on congress to prevent his taxes from going up. >> scary. you know, it's scary. where is that money going to come from, you know, how am i going to pay that extra tax hike. >> reporter: one booth over, ted and gus say they don't think congress can avoid the cliff. >> i hope so, but i don't see it yet. >> if we're going to have standoffs, have that do nothing congress, it is going to be awfully toug to get anything done. >> reporter: potential effects of the fiscal cliff in rock island, illinois aren't necessarily any better or worse than in other cities around the country. the bottom line is if congress fails to act, repercussions will be felt across the country. wolf? >> ted rowlands in rock island, illinois. >>> imagine being able to use your ipad, cell phone in the air whenever you want. up next, we have details on a new government effort under way now to keep you plugged in all the time, including on takeoff and landing, while flying. stand by. ♪
and the fiscal cliff. james cheeks says he is counting on congress to prevent his taxes from going up. >> scary. you know, it's scary. where is that money going to come from, you know, how am i going to pay that extra tax hike. >> reporter: one booth over, ted and gus say they don't think congress can avoid the cliff. >> i hope so, but i don't see it yet. >> if we're going to have standoffs, have that do nothing congress, it is going to be awfully toug to get anything...
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when we come back, deal making in a post-fiscal cliff world. faber has an exclusive interview with the ceo of investment bank moelis and company. more in just a moment. >> announcer: the holiday season is here and that means lots and lots of photos with a certain someone. now you can display it in style with a picture frame signed by the entire "squawk on the street" gang. if you can guess friday's nonfarm jobs number it's all yours. tweet your guess and don't forget hash tag nail the number. you have to be at least 18 years of age to enter. sorry, kid. for all of the official rules and details, go to cnbc.com. you have until 8:29 a.m. eastern this friday morning. good luck and say cheese. melons!!! oh yeah!! well that was uncalled for. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could save. ♪ you can stay in and like something..
when we come back, deal making in a post-fiscal cliff world. faber has an exclusive interview with the ceo of investment bank moelis and company. more in just a moment. >> announcer: the holiday season is here and that means lots and lots of photos with a certain someone. now you can display it in style with a picture frame signed by the entire "squawk on the street" gang. if you can guess friday's nonfarm jobs number it's all yours. tweet your guess and don't forget hash tag...
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all to keep us from going over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at 1416. with less than an hour to go in the trading week, another week without a deal to avoid going over the fiscal cliff. while today's positive jobs report did give markets a boost early on, it wasn't enough to get a significant rally going and to continue it on. so what's it going to take to get some conviction back in this market? >> that's in today's "closing bell" exchange. gentlemen, great to have you joining us here on "closing bell." i think bill pretty much cede it. what is it going to take to get conviction back in this market? i kind o
all to keep us from going over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at...
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revenue to avoid the so-called fiscal cliff we're talking so much b. otherwise we know there will be automatic tax hikes. there are also the spending cuts that kick in starting in january. the pentagon will bear the brunt of the automatic spending cuts. some republicans say mandatory cuts are better than no cuts at all and we should put defense spending on the chopping block to accomplish the long-term goal of reducing the deficit. joining me now oklahoma congressman james langford, his second term in congress. what do you think about that, some suggesting this is in a political article that the republicans are foresee questions tracing if that is the only way to cut the debt and deficit. >> the challenge of it is this is really part sue of the debt ceiling debate we had last summer. we wanted a strategic plan to reduce the spending. the house passed that in may. we had an outlined plan to reduce spending. we had no answer from them. the see questions station wa sequestration was the last report. i haven't been in congress a longtime but i can tell you
revenue to avoid the so-called fiscal cliff we're talking so much b. otherwise we know there will be automatic tax hikes. there are also the spending cuts that kick in starting in january. the pentagon will bear the brunt of the automatic spending cuts. some republicans say mandatory cuts are better than no cuts at all and we should put defense spending on the chopping block to accomplish the long-term goal of reducing the deficit. joining me now oklahoma congressman james langford, his second...
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more of a foregoing conclusion. >> and who is coming up on your show to talk about the fiscal cliff today? >> we doctor v two remembers, marsha blackburn, they both have very different views, suppose the speaker gets a deal, and he can't get his folks to sign on. it has happened before as we know. it happened in the grand deal that he and president obama were putting together together before, so how far can the speaker go, before they start to lose too many people. so we'll have them talk about how short or long of a leash the speaker has. >> and i understand you have kristine laguard on? >> yes, she is head of the i.m.f., and in this global economy, nobody is in their economy alone. the world is also watching these negotiations and the lack of a deal, certainly, could shake the markets, and shake confidence across the globe. this is a global village watching the fiscal cliff. >> thanks, looking forward to that. looking forward to state of the union which starts in about ten minutes. >>> now, time to get ready for the week ahead, it's a busy week, monday, nobel prizes will be awarded, and
more of a foregoing conclusion. >> and who is coming up on your show to talk about the fiscal cliff today? >> we doctor v two remembers, marsha blackburn, they both have very different views, suppose the speaker gets a deal, and he can't get his folks to sign on. it has happened before as we know. it happened in the grand deal that he and president obama were putting together together before, so how far can the speaker go, before they start to lose too many people. so we'll have...
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if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the president is playing a very dangerous game of chicken and this is with your paycheck and the american dream. meanwhile, the republicans have allowed themselves to get caught in a circular firing squad. they're negotiating publicly among themselves while true conservatives and tea party members are being removed from key committees. today speaker john boehner adopted the president's class wawarfare rhetoric. shocking? watch this. >> we've got to cut spending, and i believe it's appropriate to put revenues on the table. now, the revenues we're putting on the table are going to come from, guess who, the ric
if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the...
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cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lousy medical device tax but did someone say minnesota where, wait, medtronic and st. jude medical are the biggest companies? they're the ones that make the equipment? and senator klobuchar and senator al franken are all of a sudden making a beef because it's in their state? where they been, guy benson, and when did they discover that taxes are job kimmers? >> i thought that wasn't the case at all. you're right. they didn't just wake up to this. let's be completely honest about what happened here. they knew all along that the medical device tax was not just a job killer but would really stifle medical innovation. we've heard this from people across the spectrum. the people involved in this industry who are making america the leader when it comes to world medical innovation, they're saying this is really going to put a crimp in what we're able to accomplish. now at the last minu
cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lousy medical device tax but did someone say minnesota where, wait, medtronic and st. jude medical are the biggest companies? they're the ones that make the equipment? and senator klobuchar and senator al franken are all of a sudden making a beef because it's in their state? where they been, guy benson, and when did they discover that taxes are job...
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it to a deal with the fiscal cliff and get economic growth and get people investing, inflation will go up. so that is going to be a problem for american families. like you said, there are places that business can succeed. is it government-infused money to get there, or is it going to be actual, real, american dollars in there? >> susan, that's really the opportunity. first of all, i don't think inflation is a concern for years. in order for inflation to be a concern it it has to get into the wage cycle. we're far from that. the needs are clear. ports, roads, transport rail and plus protection against extreme weather. on the other side demand. the demand for infrastructure investments isle coming from the private sector. this is very new and it's driven by the fact as rates come down the opportunities for investors, pension funds and sovereign wealth funds to find opportunities to give them the yield they want, 5 to 6% are disappearing. infrastructure offers that opportunity. it's a long-term opportunity. it matches their liabilities, what they need to protect to pay off their retire
it to a deal with the fiscal cliff and get economic growth and get people investing, inflation will go up. so that is going to be a problem for american families. like you said, there are places that business can succeed. is it government-infused money to get there, or is it going to be actual, real, american dollars in there? >> susan, that's really the opportunity. first of all, i don't think inflation is a concern for years. in order for inflation to be a concern it it has to get into...
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> we've had time. the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter lacking in specifics. >> meanwhile, vice president biden is having lunch with several middle class americans who would see their income taxes go up if the tax cuts are not extended. all of this comes as the first jobs report since the election exceeded expectations. the u.s. economy added some 146,000 jobs last month. that was enough it to drive the unemployment rate down to 7.7%. joining me to talk about all of it, florida congresswoman debbie wasserman schultz and she chairs the democratic national committee. good friday afternoon to you. >> thank you. >> john boehner said today that democrats' plan is to, quote, slow walk our economy to the edge of the fiscal cliff. how do you respond it to that? >> well, that's just utterly preposterous. the republicans right now in the house of representatives ha
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> we've had time. the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter lacking in specifics. >> meanwhile, vice president biden is having lunch with several middle class americans who would see their income taxes go up if the tax cuts are not extended. all of this...
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coming out today in a report, saying that the fiscal cliff could reverse u.s. home price improvements. so, that sees like a lot of risk built into the sector here. >> yeah, if you look at the sector, evaluation wise -- hd and lowe's price to earnings ratio are above where they were during the peak of the housing bubble. that's a lot of hammers that you have to sell here. i'm short. that's the way to play it. >> there's a rise which has just within phenomenal and then there's the actual housing market which has had a nice bump but nowhere near what we've seen in the equities, so, i think we could see both, them come down and the housing bottom still continuing and finding strength. >> yeah, i'd say, you know, 1.8 times book, these guys are expensive. people, you know, if you look, they have underperformed the s&p in this kind of post-election, after we troughed, this run back up 5%. they are really underperformed. i think there's already rotation there and people recognize these things are pricey. >> let's move onto our next trade, get some unusual activity in s
coming out today in a report, saying that the fiscal cliff could reverse u.s. home price improvements. so, that sees like a lot of risk built into the sector here. >> yeah, if you look at the sector, evaluation wise -- hd and lowe's price to earnings ratio are above where they were during the peak of the housing bubble. that's a lot of hammers that you have to sell here. i'm short. that's the way to play it. >> there's a rise which has just within phenomenal and then there's the...
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when it comes to the fiscal cliff that is threatening our economy and threatening jobs, the white house has wasted another week. >> the house speaker had nothing of substance to say about this week's phone conversation with the president. >> the phone call was pleasant, but was just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president if he's serious to come back to us with a counteroffer. >> boehner says the president is not being a helpful negotiator, even though the president apparently designed the negotiating sessions at boehner's request. according to "the new york times," boehner insisted the talks include only himself and the president of the united states. boehner wanted senate democrats and nancy pelosi out of the discussions. democratic senator dick durbin told the times this is now the speaker and the president working this through. democratic leaders say they are satisfied with the briefings that they continue to receive. nancy pelosi seems perfectly happy putting pressure on the republicans. >> why are we not
when it comes to the fiscal cliff that is threatening our economy and threatening jobs, the white house has wasted another week. >> the house speaker had nothing of substance to say about this week's phone conversation with the president. >> the phone call was pleasant, but was just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president if he's serious to come back to us with a counteroffer. >> boehner says the...
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. -- captions by vitac -- www.vitac.com >>> "outfront" next, just 25 days until the fiscal cliff and a new idea is born. it comes from an unexpected source. howard dean, does the former vermont's governor's plan add up? plus, a sailor charged with espionage and the war on drugs. we lost it. sir richard branson is "outfront." let's go "outfront." good evening, everyone. i'm erin burnett. "outfront" tonight, a bright idea. brought to us by the liberal former governor of vermont, howard dean. a man who brought us the scream heard around the world when reran for president. dean says let's face it, america, tacks need to go up for everyone. now, this might not be what you expect from someone like howard dean. it's certainly not the president's position or the position of most americans. another new poll out today shows that most people like the president's idea of only raising taxes on other people. specifically, the top 2%. the problem is according to the congressional research service, the math doesn't add up. that tax hike would only give $678 billion in additional revenue over ten yea
. -- captions by vitac -- www.vitac.com >>> "outfront" next, just 25 days until the fiscal cliff and a new idea is born. it comes from an unexpected source. howard dean, does the former vermont's governor's plan add up? plus, a sailor charged with espionage and the war on drugs. we lost it. sir richard branson is "outfront." let's go "outfront." good evening, everyone. i'm erin burnett. "outfront" tonight, a bright idea. brought to us by the...
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we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want to turn your tall ends to educate the people on economics of country. >> that is what i do as a mortal on this follow show and on fox business network each day, jay every day, without a super her overoutfit. >> and i often watch with my dad and i think you are funny but i wonder, was he an odd kid? you seem like you would have done some odd things? >> well, if you call always worrying about the planet trying to say that the odds, well, guilty. >> kathy from hotmail, i love you, not in a romantic we because you saw it as it is. why not run for budget? i was too busy being a super hero, leaving mere mortals to lead. >> from north carolina, thanks for chewing out congress, and i am thinking of watching "lincoln" rather than fixing the economic problems. any in the of harry reid getting
we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want to turn your tall ends to educate the people on economics of country. >> that is what i do as a mortal on this follow show and on fox business network each day, jay every...
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just 26 days until the fiscal cliff, and a new idea is born. it comes from an unexpected source, howard dean. does the former vermont governor's plan add up? plus, a former u.s. navy sailor charged with attempted espy naj tonight. the alleged benefactor was russia. the war on drugs? have we lost it? let's go "outfront." good evening. a bright idea brought to us by the liberal former governor of vermont, howard dean. the man who brought us the scream heard round the world when he ran for president. yeah! >> dean says let's face it, america. taxes need to go up for everyone. now, this might not be what you expect from someone like howard dean. it's certainly not the president's position or the position of most americans. another new poll out today shows most people like the president's ideas of only raising taxes on other people, specifically the top 2%. individuals making over $200,000 a year or families making over $250,000 a year. the problem is according to the congressional research service, the math doesn't add up. that tax hike would give
just 26 days until the fiscal cliff, and a new idea is born. it comes from an unexpected source, howard dean. does the former vermont governor's plan add up? plus, a former u.s. navy sailor charged with attempted espy naj tonight. the alleged benefactor was russia. the war on drugs? have we lost it? let's go "outfront." good evening. a bright idea brought to us by the liberal former governor of vermont, howard dean. the man who brought us the scream heard round the world when he ran...
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. >>> and is this what the fiscal cliff deal has come to? why 81-year-old former senator alan simpson is going gangnam style to get everyone's attention on debt. >> it has officially jumped the shark. >>> alan st. pierre is the executive director for the national,or for the reform of marijuana laws. oregon senator jeff merkley, heidi ewing, and rachel grady will be joining us. steve satich, ohio congressman, steve latourette, and ambassador nick burns are our guests this morning. it's thursday, december 6th, and "starting point" begins right now. >>> welcome, everybody. our starting point this morning, some major developments to tell you about in egypt, after angry protests against political moves by the president, mohamed morsi, have turned deadly. tanks, armored personnel vehicles, all stationed outside the presidential analysis cairo. not only are they guarding the palace, they're also keeping apart supporters and opponents of morsi. hundreds of his islamist supporters already taking to the streets in cairo this morning. opponents are gat
. >>> and is this what the fiscal cliff deal has come to? why 81-year-old former senator alan simpson is going gangnam style to get everyone's attention on debt. >> it has officially jumped the shark. >>> alan st. pierre is the executive director for the national,or for the reform of marijuana laws. oregon senator jeff merkley, heidi ewing, and rachel grady will be joining us. steve satich, ohio congressman, steve latourette, and ambassador nick burns are our guests this...